PETALING JAYA: Former Malakoff Corp Bhd group managing director (MD) Azhar Abdul Hamid has been named as chairman of Felda Global Ventures Holdings Bhd (FGV) effective today.
The announcement was made by Prime Minister Najib Razak in a statement today.
“I am confident that with his vast experience, Azhar will effectively helm FGV and at the same time, enhance investor confidence which would translate into a more stronger share price for the company,” Najib said.
Azhar had previously been tipped to take over from Zakaria Arshad as FGV chief executive officer (CEO), after Zakaria and three other senior executives were suspended from duty on June 6 amid investigations into alleged irregularities in business dealings between Afghan company Safitex Trading LLC and FGV subsidiary Delima Oil Products Sdn Bhd.
A report by The Edge in June named Azhar as a potential candidate, along with former managing director and CEO of Lembaga Tabung Haji, Ismee Ismail, and Sime Darby president and CEO Mohd Bakke Salleh.
Azhar resigned from Malakoff on June 30, citing personal and professional reasons.
The 56-year-old is a chartered accountant by training.
He was previously president and group MD of Tradewinds Corp Bhd, and had served British Telcom Plc in the UK from 1989 to 1991.
He was group CEO of Pernas International Holdings Bhd from November 2001 to October 2002, after which he was with the Sime Darby Group.
He was CEO of Mass Rapid Transit Corp Sdn Bhd from 2011 to 2014.